Nayara Energy exports decline by 10% in 2023 as domestic demand surges
Nayara Energy, India’s largest private fuel retailer, saw petroleum product exports drop by 10 per cent in 2023 as it supplied more products domestically to meet the fuel demands of a growing economy.
Nayara, which operates a 20 million tonne a year oil refinery at Vadinar in Gujarat and a network of over 6,500 petrol pumps, exported 6.21 million tonne of petroleum products, including jet fuel, gasoil (diesel) and gasoline (petrol) between January 2023 and December 2023, down 10 per cent year-on-year. This was primarily because of larger consumption at home. The company is catering to the domestic market through institutional business, sales to other oil companies and its own retail chain.
Of all the petroleum products Nayara produced, 68 per cent were sold within the country and the remaining 32 per cent of products, including, ATF, gasoil and gasoline were exported, sources said.
